Dec 6, 2019 | FinTech, News
According to Federal Reserve Chairman Jerome Powell, the United States at present has no plans to create a digital currency. In a letter to Rep. French Hill (R-Ark.), Powell said that such a currency would be difficult for the U.S. central bank to adopt as many...
Dec 3, 2019 | Banks & Credit Unions, FinTech, News
According to a survey by Promontory International Network, about 26 percent of community bankers consider big technology companies like Google and Amazon to be the main threat to their business. Tech giants rated more than double the 11 percent of community bankers...
Nov 26, 2019 | FinTech, News
A few months ago, Apple made big waves in the financial services sector when it launched Apple Card, a product it bills as “A new kind of credit card. Created by Apple, not a bank.” Facebook, too, has looked to get into finance with the launch of Libra, a digital...
Nov 15, 2019 | Congressional Legislation, FinTech, News
U.S. Rep. Jesus “Chuy” García (D-Ill.), who represents parts of Chicago and its suburbs, has drafted three bills aimed at keeping big tech companies like Facebook, Google, and Amazon out of the financial services industry. He says that his plan is to prohibit...
Nov 14, 2019 | FinTech, News
In a recent opinion column published on MinnPost, U.S. Representative Tom Emmer argued that Minnesota is poised to become a national hub for development of financial technologies, or fintech. Emmer represents Minnesota’s 6th Congressional District, which includes St....
Nov 12, 2019 | FinTech, News
When Apple launched its new Apple Card product earlier this year, experts saw it as having the potential to create a shift in the credit card industry due to the way Apple tackles customer interactions. Specifically, customers can apply and start using the card within...
